Agile Gurugram 30-31Aug 2024 | Unleash the power of AI and ML for Product Managers by Rohit Handa
- 1. Unleash the power of AI and ML for Product Managers What all you should be equipped with!
- 2. Wiley Blue 2021-10.potx 2 www.agilegurugram.com Hello! Quick Introduction D i r e c t o r , D i g i t a l P r o d u c t s & P l a t f o r m s H C L T e c h n o l o g i e s L t d . • Who Am I ? Digital products consultant for global clients with focus on artificial intelligence and machine learning, computer vision & conversational commerce. • What I do? 23 years of work experience defining strategic direction, taking new products to market, creating innovative solutions, and growing new businesses using enterprise digital technologies. • Loves to Learn, Un-Learn, Re-Learn: 9x Certified Azure Cloud practitioner & Microsoft Trainer, holding global industry level project management certifications like Prince2, PMP, TOGAF and ITIL V3. • Passionate about teaching and providing awareness on AI and data driven product management to wider community.
- 3. Wiley Blue 2021-10.potx 3 www.agilegurugram.com Session Objectives ▪ Why do I even care about AI and ML ? ▪ What’s the role of a AI Product Manager? ▪ Leveraging AI across product management lifecycle ▪ Essential Skills and Qualities of a APM ▪ Challenges introduced by AI & ML ▪ Key Takeaways for APMs ▪ Tips & Tools used for success in AI Product Management
- 4. Wiley Blue 2021-10.potx 4 www.agilegurugram.com Unveiling Artificial Intelligence and Machine Learning If I asked you… “How important is it for your company to invest in Machine Learning and AI?” What we often hear: “We’re not a Machine Learning company.” ”They’re not central to our business.” “We have more important topics to address
- 5. Wiley Blue 2021-10.potx 5 www.agilegurugram.com “How important is it for your organization to build better products and deliver a better customer experience?” We always hear: “This is our number one priority.”.” But isn’t this the same question, really? Now if I asked you…
- 6. Wiley Blue 2021-10.potx 6 www.agilegurugram.com AI is not just PREDICTION….its a lot more than that Supervised Learning Get better at finding the TARGET Un-Supervised Learning Assume Nothing, Question Everything, Identify PATTERNS Bad Action Penalty Good Action Reward Reinforcement Learning Reinforcing Good actions with REWARDS to maximize high performing behavior.
- 7. Wiley Blue 2021-10.potx 7 www.agilegurugram.com AI is the new NORMAL $ 80 Tn $ 112 Tn AI $15.7 Tn 2018 WW GDP 2030 Projected WW GDP 14% of human productivity
- 8. Wiley Blue 2021-10.potx 8 www.agilegurugram.com Do I need it? • Heavy investments in this field • Sustainable double digit YoY growth • Major socio-economic disruptor • Heavy cost of falling behind
- 9. Wiley Blue 2021-10.potx 9 www.agilegurugram.com So, I am sold… Now, what’s next? How does it relate to PM?
- 10. Wiley Blue 2021-10.potx 10 www.agilegurugram.com Who is AI product manager? PROPRIETARY & CONFIDENTIAL • Cross between the roles of both data scientist and designer. • An AI product manager will have not only strong design skills but also be knowledgeable about machine learning, algorithms, and other methods for enhancing businesses with artificial intelligence. • In tandem with their knowledge of these cutting- edge techniques, they are able to translate what might otherwise feel technical or abstract into designs that harness those tools in ways anyone can use. Behind every great AI product is a product manager or leader who led the vision, helped with data, facilitated the work of technology teams, listened to customers, had empathy and drove adoption and growth led by business metrics.
- 11. Wiley Blue 2021-10.potx 11 www.agilegurugram.com We understand AI Product Management as well In a nutshell, AI product management focuses on using artificial intelligence, deep learning, or machine learning to enhance, improve, create, and shape products.
- 12. Wiley Blue 2021-10.potx 12 www.agilegurugram.com Product is at the center of AI! 1. AI transforms the user feedback process 2. AI enhances your meetings 3. AI improves usability testing 4. AI helps you write more detailed product specs 5. AI enhances your market intelligence 6. AI gives you a competitive advantage
- 13. Wiley Blue 2021-10.potx 13 www.agilegurugram.com AI through the Product Cycle: How is it different?
- 14. Wiley Blue 2021-10.potx 14 www.agilegurugram.com How can AI be part of Product Management cycle
- 15. Wiley Blue 2021-10.potx 15 www.agilegurugram.com Case in point: Product Marketing & Comms for a Football Club app Phase Objective: Fan engagement app marketing & promotion by segmenting the fanbase by their geo & browsing behaviour Solution Provided: ▪ Analyze customer data, pinpointing particular market segments that are most likely to derive value from the features and functionalities. ▪ This targeted approach ensures that promotional efforts are directed toward individuals with the highest potential to become customers, resulting in more efficient marketing spend and higher conversion rates Tools : Marketing Automation tools like Marketo, Hubspot
- 16. Wiley Blue 2021-10.potx 16 www.agilegurugram.com Case in point: Product planning & road mapping for Healthcare provider Phase Objective: Healthcare app for pharma companies to provide HCP with patient information, appointments and therapy adherence Solution Provided: ▪ By identifying patterns and correlations in data, AI can prioritize features by assessing their potential impact on both customer satisfaction and business objectives. ▪ AI optimizes product roadmaps by considering market dynamics and resource constraints, ensuring alignment with strategic objectives and maximizing return on investment. Tools : Aha! and Productboard
- 17. Wiley Blue 2021-10.potx 17 www.agilegurugram.com Case in point: Customer Feedback & Support for a Retailer Phase Objective: Gather valuable feedback, customer enquiries, features, usage, behaviour to improve experience Solution Provided: ▪ By analyzing customer interactions and sentiment, AI-powered chatbots can also uncover insights that inform product development decisions, such as identifying popular features or common user issues. ▪ AI-driven chatbots and virtual assistants, companies can iteratively enhance their products based on real-time customer feedback. Tools : Intercom and Drift
- 18. Wiley Blue 2021-10.potx 18 www.agilegurugram.com Case in point: Performance Monitoring & Analytics for Chemical Manufacturer Phase Objective: Based upon performance metrics & environment factors, modify the chemical composition of car paints based upon data insights Solution Provided: ▪ Using the AI real-time insights about the change in environment factors, humidity, temperature etc. , the composition mix is being driven to provide best paint lustre. ▪ This iterative process of monitoring, analyzing, and modifying products fosters continuous improvement and innovation, ultimately driving greater success in the market. Tools : Mixpanel and Amplitude
- 19. Wiley Blue 2021-10.potx 19 www.agilegurugram.com AI “ Oopsies” : Where can AI go wrong and why? Data’s “GIGO” problem Challenges • Data volume is too small • Data is biased or unrepresentative • Data is changing in unanticipated ways Potential Solutions • Leverage your data scientist to catch data problems early • Create quality gates in the data feedback loop
- 20. Wiley Blue 2021-10.potx 20 www.agilegurugram.com AI “ Oopsies” : Where can AI go wrong and why? The “ Narrow” in AI Challenges • AI will optimize for what you ask of them • AI systems are unaware of broader context of what you are trying to achieve • Most horrible AI failures are the silent ones Potential Solutions • Consider edge cases and non-normal operating environments • Consider second and third order effects • When ( not if) you mess up; apologize, empathize, learn from it and adjust
- 21. Wiley Blue 2021-10.potx 21 www.agilegurugram.com AI “ Oopsies” : Where can AI go wrong and why? Privacy, Law & Ethics Challenges • AI are agnostic to ethical harms • AI systems will use the data you give them Potential Solutions • Consider the ethical consequences • Have written principles and abide by them • Listen to expert feedback • Beware of the bystander effectv
- 22. Wiley Blue 2021-10.potx 22 www.agilegurugram.com Essential Skills to possess as an AI PM Responsibilities beyond a basic PM 1. Additional input 2. Problem mapping 3. Data literacy 4. Communication 5. Acceptance criteria 6. Explainability 7. Ethics 8. Evangelism
- 23. Wiley Blue 2021-10.potx 23 www.agilegurugram.com Key “takeaways” for AI PM • AI is not a magical ingredient ; put focus in other areas of your product as well • Real world AI requires a lot of data; make sure your business is ready to invest • Real world AI is a team sport; leverage your team • Privacy is an integral part of an AI product; take it seriously • Considering AI ethics is your job; have principles, write them down and start with them.
- 24. Wiley Blue 2021-10.potx 24 www.agilegurugram.com Tips & Recommendations • AI and ML are here to stay and will continue to transform the way we interact and engage with each other and the world at large. Rather than ducking and covering, you need to figure out where AI and ML can give your business a competitive advantage. • AI PMs need to approach AI initiatives differently by exploring data first to identify and vet business opportunities. • AI PMs must understand how to ask customers the right questions. And they must continue to gather data to fine-tune ongoing AI initiatives. • Effective collaboration within cross-functional teams is what brings AI initiatives to life. Listen to each other. Learn from each other. • AI PMs must leverage AI and ML to deepen their understanding of customers. • Perhaps most importantly, AI PMs need to prepare for failure. Uncertainty is undoubtedly higher for AI initiatives. Above all else, keep learning, and use that knowledge to make improvements.
- 25. Thank you